CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South...
Tag : OPEC
Brent crude prices declined nearly 3% on Wednesday, rebounding slightly from a three-year low as U.S. crude stockpiles rose more than expected, adding pressure on oil markets already grappling with OPEC+ plans to increase production...
Oil prices continued their upward trend, settling above $72 per barrel amid ongoing supply uncertainty and a weak dollar, which made dollar-denominated commodities more attractive to investors. The rise marked the third consecutive session of gains...
Oil prices surged in the first trading session of 2025, marking the highest levels since October, as U.S. crude stockpiles registered another decline and technical indicators pointed to stronger short-term demand. West Texas Intermediate (WTI)...
MENA Newswire News Desk: Saudi Arabia’s non-oil activities surged by 4.9% year-on-year in the second quarter of 2024, propelled by robust growth in the financial and insurance sectors, according to the General Authority for Statistics (GASTAT)....
In a statement released Wednesday, Haitham Al Ghais, the Secretary-General of OPEC, addressed common misconceptions about the competition between oil and electrification, emphasizing the collaborative role petroleum plays across various sectors. Al Ghais highlighted the...
The United Arab Emirates is experiencing continued growth in key economic sectors, according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC). Released on Monday, the August Monthly Oil Market Report...
The Organisation of the Petroleum Exporting Countries (OPEC) announced Thursday that it anticipates a surge in world oil demand, projecting an increase of 2.25 million barrels per day (bpd) in 2024 and 1.85 million bpd...
In a pivotal move, OPEC+ members, responsible for over 40% of global oil supply, have agreed to substantial voluntary production cuts for early next year. The decision, led by Saudi Arabia's commitment to maintain its...
The Nasdaq Composite fell 0.6% on Monday as oil prices soared amid concerns of inflation and a looming recession. The S&P 500 remained mostly flat after a lower open, while the Dow Jones Industrial Average...